Customers contacted as legal process begins following Coventry Building Society’s acquisition of The Co-operative Bank

• Proposed transfer is part of the next stage of bringing The Co-operative Bank into Coventry Building Society
• No changes to day-to-day banking services for customers

The Co-operative Bank has begun contacting customers about a proposed legal transfer process, following Coventry Building Society’s acquisition of the Bank in January 2025.

Known as a Part VII Transfer, the process would legally transfer The Co-operative Bank’s business into Coventry Building Society.

On 18 August 2026, the High Court agreed for the Part VII transfer to proceed, allowing the Bank to start communicating with customers and suppliers. A final court hearing is scheduled for 2 December 2026 and if approved, the transfer is expected to complete on 1 January 2027.

There will be no changes to how customers use their accounts or banking services while the process is underway, and customers do not need to take any immediate action.

As a member-owned mutual, Coventry Building Society exists to deliver value for its members rather than shareholders.

If approved, customers' accounts will transfer to Coventry Building Society and, depending on the products they hold and their individual circumstances, some customers may become members of the Society. 'The Co-operative Bank' and 'smile' brands will continue to operate as trading names following the transfer.

Customers will receive information explaining what the proposed transfer means, why it is happening, how they can ask questions or raise concerns, and the expected timetable.

Rachel Macfarlane, General Counsel at Coventry Building Society, said:

"This is an important step in bringing The Co-operative Bank into Coventry Building Society and creating a simpler structure for the future."

"Although the legal process is technical, what customers need to know is straightforward. There are no changes to day-to-day banking services as a result of this announcement, and customers do not need to take any immediate action."

"We are writing to customers so they have clear information about what is happening, what it means for them and how they can raise any questions."

A Part VII Transfer is a formal legal process used to transfer business from one authorised firm to another. It includes regulatory oversight and requires court approval, and customers have the opportunity to raise questions or concerns as part of the process.